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Sources of China’s Economic Growth: An Analysis Based on Nonparametric Accounting Method
Liang Yongmei (梁泳梅) and Dong Minjie (董敏杰)
Institute of Industrial Economics, Chinese Academy of Social Sciences (CASS), Beijing, China
China Securities CO., LTD, Beijing, China
Abstract: This paper improves the slacks-based method for estimating inefficiency,
derives the criteria for the selection of the weights of output and input inefficiencies in
the objective function, and creates a new nonparametric method for accounting economic
growth. Based on this method, the paper estimates the sources of China’s economic growth
from 1978 to 2013. Our findings suggest that factor input and especially capital is a major
source of economic growth for China as a whole and its major regions, and that economic
growth in recent years is increasingly dependent on capital. For a rather long period of
time before 2005, China’s northeast, central and western regions lagged behind the eastern
region in terms of economic growth, and TFP and factor input are major reasons behind
such regional growth disparities. Although other regions have narrowed their disparities
with and even overtaken the eastern region in terms of economic growth, the key driver
is the rapid increase in the contribution of factor input. Advanced technologies of eastern
region should be utilized to promote TFP progress in other regions, which is vital to
economic growth in these regions and China as a whole.
Keywords: TFP contribution, share of TFP contribution, slacks-based method for
estimating inefficiency, data envelope analysis (DEA)
JEL Classification: O11, O39, O47, O53
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